The sports analogy is an excellent literary device that helps guide the reader through some otherwise dry subject matter. For mortgage servicing compliance, there’s no better sport than golf to compare it to. It’s one of a handful of sports out there that’s so hard it gives you complementary strokes (points) to avoid getting too discouraged.
Unfortunately, Servicing regulators aren’t so accommodating and are ready to provide you with penalty strokes for the slightest mistake. However, there are many compliance features built into Brace, and once you start using it, it will feel like you’re leaving the course under par every day.
The Brace Platform is like having a PGA-Level caddy every time with every shot.
In golf and in Servicing compliance, surprises are not your friend. Golfers have favorite courses because they play them frequently and can develop a kind of muscle memory. The Brace platform is like your favorite course, with built-in complaint decisions for every regulator.
What happens when something changes? Like a new sand trap being built or the hole being moved to the back of the green? That’s when you rely on your caddy for advice. With every shift in investor/regulator guidelines, the Brace compliance team suggests how to comply quickly, with minimal downtime.
According to the United States Golf Association (USGA), a golfer can carry up to fourteen clubs in their bag. Knowing the perfect club for every shot is a major challenge. There are many more than fourteen factors to consider for mortgage servicers in default departments when attempting to provide a homeowner with a default resolution plan.
Once again, Brace is your caddy you can rely on. It provides complaint, waterfall decisioning based on consumer input, and directs tasks to the appropriate team member through its skills-based tasking system.
Penalty strokes in golf are no bueno. They make you frustrated, throwing you off your game and causing you to work double-time to get back to par. The same goes for mortgage servicers when they are penalized by regulators. Like a golf caddy, Brace can’t 100% ensure you’ll always stay out of the trap. But, if you follow its RESPA-driven tasking system, it can significantly reduce your chances of penalization.
Play Through to Become the Servicer of Choice
A sunny Saturday morning brings a lot of golfers to the course, and not everyone might be as good as you—especially if you have Brace acting as your caddy. If you’re playing an under-par round at lightning speed, golf etiquette dictates that the slower party let you play through. With Brace, you can have an enjoyable outing and make it back to the clubhouse before everyone else for drinks at the 19th hole with potential new golfing partners.